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PNC to Buy BBVA USA for $11.6 Billion in Move Toward Sun Belt Banking Expansion

Merger Creates Fifth-Largest US Financial Institution, With Branches Coast to Coast
PNC Financial Services Group, based in Pittsburgh, plans to expand across the Sun Belt by acquiring BBVA USA Bancshares. (Getty Images)
PNC Financial Services Group, based in Pittsburgh, plans to expand across the Sun Belt by acquiring BBVA USA Bancshares. (Getty Images)
CoStar News
November 16, 2020 | 4:58 P.M.

PNC Financial Services Group agreed to buy Spanish financial company BBVA's U.S. business for $11.6 billion, making Pittsburgh-based PNC the fifth-largest U.S. bank by assets and setting it up for adding more branches across the Sun Belt.

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